Car Buyers Paid Record-High Prices in December, Survey Says

The prices consumers paid for new passenger cars and light trucks rose to record highs in December, according to data from industry research and forecasting company TrueCar.com.

The average transaction price for light vehicles in the U.S. totaled an estimated $31,228 in December, which is an increase of $542 or 1.8% compared with December 2011, and up $396 or 1.3% from November 2012.

“Pricing and incentives spending in December were almost ideal for manufacturers as the industry spent less money on incentives while attaining higher net transaction prices in the market place compared to year ago levels,” said Jesse Toprak, a senior analyst with TrueCar. “The resurgence of the trucks segment in December helped contribute to the some of the highest average transaction prices we have ever recorded,” he said.

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